Switzerland: Swiss consumers remain pessimistic in Q3
August 4, 2016
Consumer sentiment among Swiss households remained stable in the third quarter and contrasted expectations of a further decline. According to the State Secretariat for Economic Affairs (SECO), the consumer confidence indicator tallied minus 15 points in the May-July period, mirroring the minus 15 points registered in the February-April period. The reading remained below the 0-point threshold that separates optimistic from pessimistic consumers. As a result, the consumer confidence index continued to linger below the long-term average of minus 9 points over five consecutive quarters.
According to SECO, consumers’ view of price levels improved in Q3 over the previous quarter and prices are expected to increase over the next twelve months. Consumers’ assessment of the current situation of the economy compared to last year has improved mildly since May, but they have a gloomier outlook for the coming twelve months than they did three months ago. Nonetheless, survey participants are less concerned about their own job security as well as about general unemployment.